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Commodities (including Gold BUGS)

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    #152
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    Cute Hoor wrote: »
    Can somebody give me an idea of the costs associated with buying, holding, and selling physical Gold.

    According to GoldPrice Gold is now $2,035 per ounce.

    If I wanted to buy 10 ounces now:
    How much would I pay per ounce, would it be the $2,035 per ounce above
    What are the additional costs associated with the purchase (Commission fees, VAT etc)
    How much would it cost annually to hold in a secure location.
    If I was holding myself how much would the insurance costs be per annum.
    Any other associated costs

    If I wanted to sell my 10 ounces in one years time (assuming GoldPrice Gold is then $2,500 per ounce).
    How much would I get per ounce, would it be the $2,500 per ounce above
    What are the additional costs associated with the sale (Commission fees, VAT etc)

    Anybody?


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    #153
    facehugger99
    Registered Users Posts: 7,216 ✭✭✭facehugger99


    pearcider wrote: »

    Jim can spout off whatever he likes but the fact is that gold is the only asset left.

    Agreed - Gold is a terrible investment until you consider the alternatives.


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    #154
    Knex*
    Registered Users Posts: 22,477 ✭✭✭✭Knex*


    Cute Hoor wrote: »
    Anybody?

    Storage rates are half way down the page: https://www.goldcore.ie/services

    FAQ section that seems decent enough here as well: https://www.goldcore.ie/buy-gold-and-silver-ireland


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    #155
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    Knex* wrote: »
    Storage rates are half way down the page: https://www.goldcore.ie/services

    FAQ section that seems decent enough here as well: https://www.goldcore.ie/buy-gold-and-silver-ireland

    Thanks Knex*. It looks like it would cost $203.50 per annum to store my 10oz. I searched through the FAQ section but can't find the answers to any of the other questions. I presume they are simple enough questions for anybody who has bought/sold gold.
    Cute Hoor wrote: »
    Can somebody give me an idea of the costs associated with buying, holding, and selling physical Gold.

    According to GoldPrice Gold is now $2,035 per ounce.

    If I wanted to buy 10 ounces now:
    How much would I pay per ounce, would it be the $2,035 per ounce above
    What are the additional costs associated with the purchase (Commission fees, VAT etc)
    How much would it cost annually to hold in a secure location. $203.50 per annum
    If I was holding myself how much would the insurance costs be per annum.
    Any other associated costs

    If I wanted to sell my 10 ounces in one years time (assuming GoldPrice Gold is then $2,500 per ounce).
    How much would I get per ounce, would it be the $2,500 per ounce above
    What are the additional costs associated with the sale (Commission fees, VAT etc)


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    #156
    An Ri rua
    Registered Users Posts: 4,475 ✭✭✭An Ri rua


    Cute Hoor wrote: »
    Looked in goldcore.ie, can't find the answer to any of my questions?

    You need to do more research if you're going to invest in something.

    Look at Bullionvault.com. Use the tools.


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    #157
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    An Ri rua wrote: »
    You need to do more research if you're going to invest in something.

    Look at Bullionvault.com. Use the tools.

    Bloody hell, is it like the third secret of Fatima, there must surely be somebody here who has traded physical gold who has this information at their fingertips. Of course you need to research stuff before investing, but all I'm looking for is the costs associated with buying/holding/selling.


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    #158
    pearcider
    Registered Users Posts: 1,033 ✭✭✭pearcider


    Cute Hoor wrote: »
    Bloody hell, is it like the third secret of Fatima, there must surely be somebody here who has traded physical gold who has this information at their fingertips. Of course you need to research stuff before investing, but all I'm looking for is the costs associated with buying/holding/selling.

    Buy a safe and hold until fed funds rates is above 5%.


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    #159
    Mach 3
    Registered Users Posts: 233 ✭✭Mach 3


    Where does the time go? It is that time of the year again, to start asking the question "where do you see Commodities over the next year?"
    As you can see, it has been a beneficial exercise over the last two years, with many making gains.

    A Few different variables this year:

    Pandemic
    US Presidential elections

    Feel free to add more.


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    #160
    An Ri rua
    Registered Users Posts: 4,475 ✭✭✭An Ri rua


    Mach 3 wrote: »
    Where does the time go? It is that time of the year again, to start asking the question "where do you see Commodities over the next year?"
    As you can see, it has been a beneficial exercise over the last two years, with many making gains.

    A Few different variables this year:

    Pandemic
    US Presidential elections

    Feel free to add more.

    Not a driver, as such, more a leading indicator. Warren Buffet has just put his faith in gold. After 30 years of ridiculing it.
    He's put over $500m into Barrick Gold in the last few days, at half its 2011 share price high.

    Very interesting.

    As a value investor, he has literally bought in on a megadip on a strong bull run.
    I'll be holding my position anyway. Which is all in on gold and silver.


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    #161
    An Ri rua
    Registered Users Posts: 4,475 ✭✭✭An Ri rua


    Cute Hoor wrote: »
    Bloody hell, is it like the third secret of Fatima, there must surely be somebody here who has traded physical gold who has this information at their fingertips. Of course you need to research stuff before investing, but all I'm looking for is the costs associated with buying/holding/selling.

    It's not rocket science. Surf to Bullionvault.com, read the bumf, play with the calculators and see the all in costs. Alternatively send an email to Goldcore if you want to 1. Take physical possession or 2. Have it stored securely in e.g. Dublin, which is a new option.

    No one is going to do your maths for you. Gold is easily bought into on Bullionvault for extraordinarily low costs, in and out. Silver costs more to store, as it's bulkier. Bullionvault is also extremely liquid, you can be in and out of positions in minutes (I don't advise trading, but for taking profits it's invaluable). You essentially move in and out of cash and bullion. Before any smart Alec's chip in, once again it's allocated gold, not ETFs. No different than buying through Goldcore and having it stored somewhere for you (they might respectfully disagree).

    But do it soon while gold remains in this dip. That won't be for long, now that Warren Buffet has signalled his belief in a large bull run for the yellow metal.

    No 3rd secret of Fatima. You simply have to engage with the service providers, who have been pointed out to you.

    If you have stomach for it (and know what you're at), you can buy gold and silver privately and sell it again either publicly (auction or dealer) or privately (which at future price points may be riskier) which will be bottom line most lucrative.

    Very best of luck. I would suggest acting now, opening an account with both Goldcore and Bullionvault.com i.e. deal with the lead time for setting up both.

    Do not buy silver coins privately currently unless it's a real quality bulk purchase at say €23 per ounce or around there. Single coins are going for silly money already on Done deal and Adverts. I hoovered up quite a few in March.


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    #162
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    And so it wasn't rocket science, not even a state secret. Having checked out Bullionvault, these would appear to be the answers to my questions. BTW for anybody else looking to find the costs, just go here and you will find out the costs handy enough, any questions just ask, people will be falling over themselves to help.
    https://www.bullionvault.com/cost-calculator.do
    Cute Hoor wrote: »
    Can somebody give me an idea of the costs associated with buying, holding, and selling physical Gold.

    According to GoldPrice Gold is now $1,944 per ounce.

    If I wanted to buy 10 ounces now:
    How much would I pay per ounce, would it be the $1,944 per ounce above - It would cost $1,949 per ounce, a difference (loss) of $50 on the 10 ounces.
    What are the additional costs associated with the purchase (Commission fees, VAT etc) - $97 commission
    How much would it cost annually to hold in a secure location. - $4 pa to store (.02%)
    If I was holding myself how much would the insurance costs be per annum. - N/A (i'll never find that)
    Any other associated costs - None

    If I wanted to sell my 10 ounces in one years time (assuming GoldPrice Gold is then $1,944 per ounce).
    How much would I get per ounce, would it be the $1,944 per ounce above - Looks like it would be $1,939, a difference (loss) of $50 on the 10 ounces.
    What are the additional costs associated with the sale (Commission fees, VAT etc) - - $97 commission


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    #163
    pearcider
    Registered Users Posts: 1,033 ✭✭✭pearcider


    An Ri rua wrote: »
    Not a driver, as such, more a leading indicator. Warren Buffet has just put his faith in gold. After 30 years of ridiculing it.
    He's put over $500m into Barrick Gold in the last few days, at half its 2011 share price high.

    Very interesting.

    As a value investor, he has literally bought in on a megadip on a strong bull run.
    I'll be holding my position anyway. Which is all in on gold and silver.

    Nice to see Buffet on board albeit he is buying in at double my entry price. I’ve been a big fan of Barrick for years and it is my second favourite gold company with the second largest allocation in my portfolio. This bull market is only just beginning.


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    #164
    An Ri rua
    Registered Users Posts: 4,475 ✭✭✭An Ri rua


    pearcider wrote: »
    Nice to see Buffet on board albeit he is buying in at double my entry price. I’ve been a big fan of Barrick for years and it is my second favourite gold company with the second largest allocation in my portfolio. This bull market is only just beginning.

    I should have clarified that the financial world has just become aware of his foray into gold in the last day or so. It actually related to the end of June filings for Berkshire so he was actually buying on a rise.
    It now remains to be seen how much further he has forayed into gold beyond a tiny $560m:-
    1. Because we've just seen an expected dip but nobody (no goldbug) expected a pullback of this size bar a few technical analysts.
    2. Once his name is attached to gold, he'll be battling other bidders for finite assets.
    3. He dumped bank stocks completely.

    So BH's Q3 filings will make for very interesting reading. Like you, good to be ahead of the man :D

    Cynics reading will say a stopped clock is right twice a day. But just like the supposed free markets, time is a mental construct and a mental manipulation of reality. The Fed intervention can be likened to Europe issuing directives for DST. Reality is still reality. My advice to stock junkies:- buy yourself a wee stopped clock.


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    #165
    Mach 3
    Registered Users Posts: 233 ✭✭Mach 3


    Mach 3 wrote: »
    Where does the time go? It is that time of the year again, to start asking the question "where do you see Commodities over the next year?"
    As you can see, it has been a beneficial exercise over the last two years, with many making gains.

    A Few different variables this year:

    Pandemic
    US Presidential elections

    Feel free to add more.

    Pandemic - New strain. More lockdowns. Vaccines been rolled out.The latter has been well priced in....

    US Presidential elections - New president.

    Oil is heading into its Seasonal downturn over the next couple of weeks.

    Metals - Trading at extremely strong multi year levels

    Softs - Trading at strong multi year levels.


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    #166
    Mach 3
    Registered Users Posts: 233 ✭✭Mach 3


    Mach 3 wrote: »
    Pandemic - New strain. More lockdowns. Vaccines been rolled out.The latter has been well priced in....

    US Presidential elections - New president.

    Oil is heading into its Seasonal downturn over the next couple of weeks.

    Metals - Trading at extremely strong multi year levels

    Softs - Trading at strong multi year levels.

    I have to say it has been hard to "sit on hands" this year while, waiting for Oil to turn, missing out on Stella gains across all sectors YTD.
    Anyhow, I think we are nearly there for a short, some might need another weekly close in the red for confirmation. It's not just Oi/commodities, I think there is a hell of a lot of overextended markets out there on the "Reflation trade".

    Thoughts?


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